Mahindra & Mahindra on Tuesday said it would launch around 10 new products, including a premium sports utility vehicle, across various segments by March 2012.
The company also hopes to gain full management control of South Korea's SsangYong Motor Co (SMC) by March 2011.
“From this year to the end of March 2012, there will be a slew of products launched across passenger and commercial vehicles segments. We have already launched pick-up vehicle ‘Genio' last month…there will be about 8-10 substantial new products, including variants and refreshes, till March 2012,” Mahindra & Mahindra (M&M) President (Auto and Farm Sectors) Pawan Goenka told reporters here.
About the new premium sports utility vehicle (SUV) that M&M is going to launch, Mr. Goenka said: “With the new SUV, we will be moving up the chain.
This will be a completely new vehicle on a brand new platform and will be launched by the third quarter of this calendar year. We have invested about Rs.600 crore on developing the vehicle platform.”
Deal with SMC
Referring to the company's deals with SsangYong Motor Co, Mr. Goenka said M&M was likely to gain full management control of the South Korean firm by March this year that would be followed by launch of two SUVs from the latter's stable by the end of 2011.
In November 2010, M&M had signed a definitive agreement with SMC to acquire 70 per cent stake in the latter for $463 million.
On plans to launch sports utility vehicles (SUVs) from SMC portfolio in India, Mr. Goenka said: “There will be two models — Korando and Rexton — that will be imported as completely knocked down units and assembled here.”
